Philips and Adyen win at loss-making Damrak | Financial

At around 4:15 PM, the AEX index was 0.4% lower at 564.1 points. The AMX fell 0.2% to 773.9 points.

The price boards in London (+ 0.4%), Paris (+ 0.8%) and Frankfurt (-0.3%) showed a mixed picture.

Of American stock exchanges closed 0.7% to 1.3% in the red on Tuesday evening. After the closing bell on Wall Street arrived coffee chain Starbucks in credit card company Visa with quarterly figures. The stock exchanges in New York opened this afternoon 0.1% to 0.7% higher. Chipmaker AMD won 12%.

The euro rose 0.3% to € 1.17545. Gold fell 0.2%, Brent oil rose 1.1% to $ 44 a barrel.

Interest rate decision in US

Tonight, eyes are on the US interest rate decision. Fed chairman Powell will almost certainly leave interest rates unchanged: 0.00% to 0.25%. The discount rate will remain below 0.25%. That interest rate is reflected on bank shares, Corné van Zeijl (Actiam) argues:

Central banker Powell is also likely to wait and see what kind of support Washington will come up with. The US Congress has been discussing a new support plan for the economy for some time.

Cees Smit of Today’s Group broker expects little fireworks after that Federal Reserve interest rate decision. And the support package the US government is preparing gets caught up in harsh political contradiction, he fears. “We are therefore increasingly looking at investments in Europe than at the US. Europe is becoming more interesting for many investors. ”

Smit also sees a turn towards so-called value shares. “The market does set long-term peaks. In the figures of ASML, ASMI and Besi you saw that expectations are very high. It is difficult to keep up with that. We see once from investments in growth shares to value shares. Such a recent recovery from Unilever, which suddenly gains 8% and again today, in addition to the figures of Aalberts and AMG – those are interesting. The worst seems to be over there. ”

Banks now also counts Smit there. The results of Barclays, Deutsche Bank and Banco Santander may not be optimal, but they remain absolutely interesting until the second corona wave takes effect. ”

Santander billions

Spain’s Banco Santander, however, wrote off almost € 13 billion because of the corona crisis. Deutsche Bank, in turn, set aside € 761 million in the second quarter to absorb losses on bad loans. That is the largest provision in eleven years, but slightly less than the bank announced in June. British bank Barclays set aside £ 1.6 billion in the second quarter, with analysts accounting for £ 1.4 billion.

In the AEX, the winners were brought in by payment processor Adyen (+ 2.1%). Healthcare technology group Philips rose 1.8%.

The food and detergent group Unilever (+ 1.5%) received buying advice from the bank Société Générale, with a target price of € 61.

ASMI was the largest fall among the main funds with a fall of 6.6%. The chip machine manufacturer from Almere is one of the best-performing stocks in the AEX this year, but the company’s quarterly figures disappointed investors. Also the promise that ASMI in 2020 continues to grow faster than the market, did not impress.

Former sister company ASML went down 3.3%. Investment bank UBS lowered its investment advice for the chip machine manufacturer from Veldhoven to ‘keep’, with a price target of € 340.

Financial institutions like ABN Amro (-2,4%), ING (-1.3%) in Aegon (-1%) the result decreased.

Price jump Fugro

In the AMX went Altice in the lead on 3.5% profit. Fugro first made a price jump of 6.6% before dropping to 2.5% in the afternoon. The soil researcher had last quarter suffer from the downturn of the oil and gas market and measures due to the corona virus. This was offset by strong growth in orders for offshore wind farms. In addition, previously impacted cost savings bore fruit and the profit margin was maintained reasonably well.

Stainless steel producer Aperam (+2,8%) struggled last quarter with factory shutdowns and weaker demand from the automotive industry due to the virus outbreak. It saw sales and operating profit fall. Aperam had already warned against lower profitability. The EBITDA is above expectations, according to JPMorgan Cazenove. Aperam says demand is picking up, but it’s still there well below the normal level.

At the bottom was Pharming with a 2.7% loss behind engineering Arcadis (-3.4%) and lighting company Signify (-3,4%).

Vopak (-1.8%) said that the oil storage tanks were fuller in the first half of the year due to lower oil prices. Due to the large supply on the oil market, there was much demand for storage capacity while traders also store oil pending higher prices. The company’s storage tanks were 88% full versus 84% ​​in the first half of last year. Vopak has good prospects, says ING analyst Quirijn Mulder, who already had buying advice.

Smallcapfonds AMG (+ 2.5%) saw a sharp decline in turnover and operating profit in the second quarter. According to the metal specialist, sales volumes and prices were under considerable pressure due to the corona crisis. AMG expects operating profit to be lower throughout 2020 than it was in 2019 when the result was over $ 121 million. AMG has reached the bottom, according to ING analysts.

Locally noted Fastned (-0.2%) said it had raised over € 13 million with the issue of bonds. In addition, investors have extended € 2.7 million in debt securities from previous issues. The operator of fast charging stations for electric cars will use the money to grow further.

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